SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to section 13 or 15 (d) of the Securities Exchange Act
April 28, 2000
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Date of Report
(Date of Earliest Event Reported)
RECOM MANAGED SYSTEMS, INC.
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(Exact Name as Specified in its Charter)
Delaware 33-11795 84-0441351
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(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
2412 PROFESSIONAL DRIVE
ROSEVILLE, CA 95661
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(Address of principal executive offices)
916/772-2727
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Registrant's telephone number
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ITEM 5. OTHER EVENTS
The Company has determined to file for bankruptcy due to the failure to
receive investment funding as expected. The Company will be filing under Chapter
7 of the US Bankruptcy Code with the intention to liquidate its business. A
bankruptcy petition is expected to be filed in the Eastern District of
California during the week of May 1, 2000.
ITEM 7. FINANCIAL STATEMENTS and EXHIBITS
(c) Exhibits
Press Release dated April 28, 2000.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
RECOM MANAGED SYSTEMS, INC.
Dated: April 28, 2000 /s/ JACK EPPERSON
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Jack Epperson, CEO
(Authorized Officer and Principal
Financial Officer)
Company Press Release
Recom Managed Systems Announces Plans to File Chapter 7 Bankrputcy
SACRAMENTO, Calif.--(BUSINESS WIRE)--April 28, 2000--The Board of Directors of
Recom Managed Systems, Inc. (OTC BB: RMSI -news) has voted that the company file
voluntary Chapter 7 bankruptcy proceedings in the United States Bankruptcy Court
Eastern District of California.
Jack Epperson, President and CEO of Recom,
explained that this action became necessary after the company incurred
substantial debt in anticipation of receiving investor funding from a consortium
of European investors. He stated that the investors agreed to fund up to two
million dollars, but the company actually received a total of $124,000. The
company was dependent on this outside funding to offset its negative cash flow.
Consequently Recom was forced to borrow heavily and is now unable to meet its
obligations.
The company plans to file a formal bankruptcy petition with
District Court the week of May 1, 2000.
Contact:
Recom Managed Systems, Inc.
Jack Epperson, 916/772-2727
